Stop Lawmakers From Predicting Act
Banning Members of Congress from Betting on Politics
This bill is currently in the early stages of the legislative process after being sent to the House Committee on House Administration for review. It is actively moving through the system, but no future hearings or votes have been scheduled yet. There is no companion bill listed for this legislation at this time.
Legislative Progress
While ethics bills are popular with the public, they often face resistance from the lawmakers they regulate. This bill has several Republican cosponsors but would need broad support to pass.
Key Points
- This bill stops members of Congress, their spouses, and their children from using websites that let people bet on what the government will do. These are called prediction markets, where people put money on things like who will win an election or if a certain law will pass.
- The rule covers any event that a lawmaker might hear about because of their job. This includes new laws, government decisions, or election results. It ensures that people in power cannot use secret or early information to make money through online betting.
- If a lawmaker or their family member breaks this rule, they will have to pay a fine. The fine is at least $2,000 or 10 percent of the bet's value, whichever is higher. They also have to give back any money they won from the bet.
- Lawmakers are not allowed to use their government office budget or campaign donations to pay these fines. The money from the fines goes back to the U.S. Treasury. This makes sure the punishment comes out of their own pockets rather than using taxpayer or donor money.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on House Administration.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Stop Lawmakers From Predicting Act
Data Sources
Sponsor
Cosponsors
(4)Analysis generated by AI. Always verify with official sources.